Questions Most Frequently Asked About Homestead Exemption and Save Our
Homes:
What is homestead exemption?
When may a homeowner apply
for homestead exemption?
What information is needed
to file for the property owner’s first homestead exemption?
Can a home be rented and still
benefit from homestead exemption?
Is a mobile home eligible for
homestead exemption?
Does a homeowner have to be
a United States citizen to qualify?
If the homeowner’s spouse
is deceased, are they eligible for a widow’s or widower’s
exemption?
When a new residence is purchased,
is the homestead exemption transferred to the new home?
If a home is purchased which
has a homestead exemption, will that exemption continue?
What if the property is in
a trust?
Are there other tax exemptions?
What is Save Our Homes?
When does Save Our Homes take
effect?
Are there any reasons that
would cause the cap to be removed?
What about partial exemptions
and the cap?
What about additions or remodels?
Homestead
exemption is a constitutional guarantee that reduces the assessed value
of residential property up to $25,000 for qualified permanent residents.
The legal owner is urged to file
as soon as they occupy the residence and they have proof of Florida
residency. The homeowner must establish permanent Florida residency
on or before January 1, and apply by mail or in person at the Property
Appraiser’s office no later than the March 1 deadline of the year
the exemption is to begin. The
homestead application and instructions
will be mailed to the property owner on request or may be printed from
our website forms page.
a)
A deed or tax bill in the applicant’s name.
b)
All of the following information is to establish proof of residency
on or before January 1 for all owners who occupy the property. The information
may be presented in person or copies may be mailed along with the application
to our office no later than the March 1 deadline:
1)
Social security numbers.
2)
Florida driver’s licenses or Florida identification cards for non-drivers.
3)
Florida vehicle tag number(s) on all vehicles privately owned or Manatee
County voter registration cards.
4)
Resident Alien Card if not a US Citizen.
5)
Copy of the entire trust agreement, or a recorded memorandum of trust,
if property is held in a trust.
If
the applicant does not possess all these items, they may call us for
further information.
No.
Rental of a primary residence constitutes abandonment of homestead exemption.
Our Tangible Personal Property Department should be contacted for filing
requirements on rental properties.
Yes,
if the mobile home and land on which it is permanently affixed are both
owned by the applicant.
When
applying, it is necessary to mail a copy or bring in the title or registration
to the mobile home in addition to the residency documentation.
Citizenship
is not required to file for homestead exemption. An applicant who is
not a U.S. citizen must mail or present a copy of both sides of their
permanent resident alien card.
Yes.
If the homeowner is a qualified Florida resident they may apply for
the widow’s or widower’s exemption. This may be applied for
by mail or in person.
No.
Exemptions are not transferred. For a homeowner to receive the exemption
on their new home, they must qualify and apply either by mail or in
person at the property appraiser’s office by the March 1 deadline.
If the application is mailed, it must be postmarked no later than the
March 1 deadline.
The
new owner will receive the benefit of the previous owner’s exemption
only for that year. However, the new homeowner must apply by mail or
in person by March 1 of the next year to continue the exemption.
In
these cases, it is necessary for the applicant to furnish this office
with a copy of the entire trust agreement or a recorded memorandum of
trust. Florida law specifies those situations under which the resident
may obtain homestead exemption. The Florida Constitution requires that
the homestead claimant have a legal title or beneficial title in equity
to the property.
Yes. Qualified Florida residents
may also apply for medical, disabled veterans, total and permanent disability,
quadriplegic, blind, wheelchair confined, service connected disability,
widow’s or widower’s and low income senior exemptions. Instructions
and forms can be obtained by printing them from our website by clicking
on the following: Homestead
Application and Instructions or
by calling 941.748.8208. Our office may be contacted for additional
information regarding filing requirements.
Amendment 10, also known as “Save
Our Homes,” is a Constitutional Amendment that was approved by
Florida voters in 1992 as a result of a citizen’s initiative. Basically,
it limits, or caps the annual increase in assessed value of property
that has a homestead exemption. The increase cannot exceed the lesser
of 3% or the
Consumer
Price Index
(CPI) for the previous year. Furthermore, in no event can the assessed
value be greater than the market value.
The
base year is the year in which the property owner qualifies and receives
their homestead exemption. Future increases in assessed value are then
capped at the lesser of 3% or the CPI.
FOR
EXAMPLE: if a person bought a home and applied for homestead exemption
in June 2009, the exemption would take effect January 1, 2010. Therefore,
2010 becomes the base year. The property would then be subject to the
cap for the first time in 2011.
Yes.
If the home is sold or if the homeowner no longer qualifies for homestead
exemption on the property (e.g. the house is rented), the exemption
and capped value will remain effective through December 31st. As of
January 1st of the following year, both the exemption and the cap will
be removed and the assessed value restored to the full market value.
If the new owner is eligible for a homestead exemption, the capping
process begins at the current market value as soon as the new owner
qualifies for the homestead exemption.
NOTE:
Please remember, the homestead exemption is granted only if the homeowner
qualifies. However, if the homeowner moves, the exemption will remain
on the property through the end of the year before being removed. If
another home is purchased that has an existing homestead exemption,
the exemption will remain in effect until December 31st. To maintain
a homestead exemption on newly acquired property, the new owner must
apply by March 1st of the year following the purchase of the home. This
will start the Save Our Homes cap process for the new owner.
The
cap only applies to the portion of the property receiving homestead
exemption. For example, if a property owner lives in a duplex where
one side is rented, only half the value will receive the cap. Since
there are many circumstances where a partial exemption may apply, we
urge the property owner to contact the Property Appraiser’s office
for clarification should the property fall into this category.
The
value of additions, remodels, etc. will be added to the capped value
at the current market value and will be under the cap the next year.
If a pool is added, the assessed value will increase by the value of
the pool in the first year and will be capped with the rest of the property
the following year.
